https://www.taxtmi.com/caselaws?id=462525 The Tribunal admitted an application under Section 95(1) of IBC for initiating insolvency resolution against a personal guarantor. The creditor established debt of Rs. 32.62 crores with default of Rs. 15.69 crores, supported by DRT order and proper demand notice. Following SC precedent, the Tribunal clarified that no judicial adjudication occurs at Sections 95-99 stage, only facilitative examination. A Resolution Professional was appointed to examine the application and submit recommendatory report within 10 days under Section 99(1). The Tribunal emphasized that natural justice principles are preserved as the debtor can participate in RP's examination process before final determination under Section 100. en-us Tue, 05 Nov 2024 00:00:00 +0530 Sat, 28 Jun 2025 14:55:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462525 The Tribunal admitted an application under Section 95(1) of IBC for initiating insolvency resolution against a personal guarantor. The creditor established debt of Rs. 32.62 crores with default of Rs. 15.69 crores, supported by DRT order and proper demand notice. Following SC precedent, the Tribunal clarified that no judicial adjudication occurs at Sections 95-99 stage, only facilitative examination. A Resolution Professional was appointed to examine the application and submit recommendatory report within 10 days under Section 99(1). The Tribunal emphasized that natural justice principles are preserved as the debtor can participate in RP's examination process before final determination under Section 100. Case-Laws IBC Tue, 05 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462525